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2023 (5) TMI 1138 - AT - Income TaxRectification of mistake u/s 154 - Credit of TDS denied - HELD THAT - Assessee has paid total taxes and credit claimed which is also reflected in the 26AS Report which is further tallying with the Income Tax return for the year under consideration filed by the assessee - The break up whereof has already been discussed by us as above. AO without considering it passed order u/s 154 and not given credit of TDS as claimed though the said amount is reflecting in 26AS Report, which was further confirmed by the CIT(A) wrongly. Assessee is entitled to credit of TDS as claimed. The demand of Rs.10,38,820/- is hereby deleted. AO is further directed to give relief to the assessee in terms of the observation made hereinabove. Assessee s appeal is allowed.
Issues involved:
The appeal challenges the order passed by the National Faceless Appeal Centre (NFAC), Delhi based on the CPC, Bangalore's decision u/s 154 r.w.s. 143(1) of the Income Tax Act, 1961 for Assessment Year 2020-21. Details of the Judgment: 1. Issue 1: Refund Calculation Discrepancy The assessee filed a return of income showing total income of Rs.2,72,97,390/- and claimed a refund of Rs.8,51,330/-. However, an intimation under Section 143(1)(a) was received, raising a demand of Rs.10,30,820/-. The assessee contended that the credit of TDS claimed was reflected in the 26AS report, totaling Rs.75,38,518/-, but the credit given was Rs.58,86,783/-. The discrepancy led to a short credit of Rs.16,51,735/. 2. Issue 2: TDS Credit Dispute The Ld. CIT(A) rejected the TDS claim, stating that credit for TDS can only be considered based on details furnished by the deductor. However, the tribunal noted that the total taxes and credit claimed by the assessee were in line with the 26AS report and the return filed, indicating an error in not giving credit for the full TDS amount. 3. Decision The tribunal allowed the appeal, deleting the demand of Rs.10,30,820/- and directing the Ld. AO to provide the assessee with the credit of TDS as claimed. The tribunal emphasized that the total taxes paid by the assessee were correctly reflected in the 26AS report and the return filed, warranting the allowance of the refund claim and rectification of the order under Section 154 of the Act. This Order was pronounced on 26/05/2023.
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